Tate‘s chair of trustees is reportedly open to relinquishing naming rights to the Turbine Corridor for no less than £50 million (roughly $68 million) to fund the London establishment’s new endowment fund.
In an interview with the Telegraph, Roland Rudd, chair of the establishment’s board of trustees, floated the potential sale as a imply to assist the newly launched Tate Future Fund meet its aim of £150 million by 2030. Rudd additionally urged that naming alternatives may prolong to curatorships and director positions.
A spokesperson for the community of UK-museums advised the Artwork Newspaper the quoted determine was “hypothetical,” and declined to substantiate whether or not the Turbine Corridor is actively being supplied as a sponsorship alternative: “We’re simply at the beginning of the fundraising marketing campaign.”
Rudd, in his interview, added that the “entire factor concerning the Future Fund is to make sure we’ve one of many biggest collections of British trendy and modern artwork, and a number of the biggest curators, as a result of we’re in a worldwide market.”
The Turbine Corridor, a cavernous exhibition area within the Tate Fashionable, hosts considered one of among the many most prestigious showcases for a residing artist. In March, the establishment introduced that Sámi artist Máret Ánne Sara would remodel the area fall, following a pledge from museum director Karin Hindsbo of a stronger focus on Indigenous artwork.
